St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-03-20
SHARKS IN STOCKS.
Slick G Gentlemen Who Instruct Lambs
in the Market Mysteries.
Deals Which Make the
Cappers' Winning Dead Sure.

place III Minneapolis where men may
gamble in wheat and stocks. There are some
six or eight other places scattered around
the city, and nearly all of them are remark
ably we'll patronized. The best patrons are
young men-clerkS, business men and men
with no business whatever except playing
the market" A peculiar feature OF these
broker offices Is the number of well-dreSSed
men who hang around and appear to be
making good living from the fluctuaton OF
stocks. None of them are ever known TO buy a
cents worth of stock; they are not brokers,
nor are they brokers' clerks who are some
times able to give good tips" on the mar
ket But nevertheless they hang around
the shops and watch the blackboard, and
talk as smoothly of stocks as though that
was their legitimate business. Just who
they are and how they manage to make
living has always been mystery to some
who have seen them around the boards. To
the men who are initiated they are the
''capppers," not for the brokers, but for
themselves. and their business Is to give
alleged pointers" to the lambs who de-
sire to invest their surplus money in stocks.
These pointers are not always to be de-
pended upon, as many would be specula-
tor has learned to his cost, and many man
fence did not cost him more. 1t is pecu-
liar scheme which these sharpers work, but
at the same time it is plausible. and there
fore the victim bites. His vocation is not
always applied at respectable shops, but the
''bucket shops" know him well, and he is a
great friend of the proprietOrs. A few days
ago, while crowd of young men were
standing in a commission shop on Third
street, one of these ''capperS" entered. He
was dressed in neat business suit,
and looked more like a successful
business man than a confidence worker.
His silk hat was nicely polished and sat on
the back of his head in very jaunty man.
ner. Walking up to another man, evidently
a confederate, he began talking in low
tone. Finally the man he was talking to
started back and, with an aStoniShed look,
said:
$50 you have pointer on the market,
have you. and you say Mr.. manning
prominent chamber OF commerce mani, gave
it to You. Well, if we don't make some
thing out of this it wont be our fault"
Yes, we have sure thing" replied the
confidence man, land as Mr.. -- is a
personal friend of mine he would not give
me the wrong tip"
With this the two men separated, the
''capper'' going toward the door. Before
he reached it, one of the young men who
had overheard the conversation, stepped
up, and in polite way asked the man if
he had not pointer on the market. The
shark looked troubled, and wanted to know
if it made any difference il he had.
well, it's this way" replied the
lamb" "if you have and are willing to let
ME in, will give you half of all | make
out of the deal. l have considerable money
that can put in. and it will be a good
thing for you. See?"
The shark saw, for the two engaged in
conversation, during which the lamb
learned that his new-found friend had it
from reliable authority that certain stock
would advance heavily in short time.
Now" said the shark. IF give you the
tip you must agree to do the square thing
and give me half the profits. And what
else you do, don't give the tip away"
The lamb promised. and after seeing
him put up good big margin the shark
left, urging that he had an important en-
gagement to fulfill. His work was now
only half done, and to complete it he must
catch another ''lamb'' Half an hour later
he returned to the same place and
went through the same performance
with his confederate. a second victim was
secured, and from the shark he learned
that ali he had to do to make good thing
was to sell the same stock which Lamb"
number one had been advised to b NY, as it
would pay him big. Of course he was to
divide with the Tip" given, and after see
ing him put up as much margin as had
lamb number one, the shark left, know
ing that he had dead sure thing no mat
ter which way the market went If the
price of stocks went up Lamb" number one
would win, if it went down ''lamb number
two would win, and as the shark stood in
with both he was bound to win anyway.
True, the man who loses is liable to feel
somewhat hurt over the matter, but that is
not the sharks lookout. He is just about
as callous as bunco steerer, and runs no risk
of going to the penitentiary, for in case
trouble is made he can claim that he him
self was give wrong pointer and lost
money in the deal. In one transaction,
while he makes an enemy out of the man
who loses, he makes a friend out of the
man who wins, and this stands him in good
stead, for at some future time he uses the
winner to play the same game, and in nine
cases out of ten the winner the first time
loses on the second deal.